Johnson Thanks for joining me on DASH: Detailed Recently Charles Hoskinson gave a presentation at Coinscrum Now Charles Hoskinson is well-known as the co-founder of both Ethereum and BitShares as well as founding the company Input Output which offers research and development for the creation of new blockchains Now in his presentation, Charles outlines a brief history of cryptocurrency

Have a listen The first generation of cryptocurrencies was all about transactions and immutable ledgers These types of things Digital scarcity So the question was: “Could you build a decentralized currency?” So

Crypto 10: transactions of scarce digital units on an immutable ledger Or, decentralized currency for short And then all of a sudden people said: “Well wait a minute These transactions between Alice and Bob – they're really dumb

“They just move value “Wouldn't it be so cool if we could attach instructions to them? “You know, terms and conditions “Say if Alice mows my lawn then I'm going to ship the money to her But then and only then” Ok well that's a smart contact

And that's kind of the second generation These are things that Sergio Lerner and others started with and eventually Vitalik Buterin kind of got right with Ethereum Second generation: transactions with instructions attached to them Or, smart contracts for short All of a sudden you start talking a little bit more seriously about the meta, i

e the governance of the system The third generation of blockchains is all about: C an we make this process explicit? Instead of having it be implicit and be meta to the protocol and be whoever has the loudest microphone or whoever has control of the code can we create a system within the cryptocurrency kind of like the constitution of the united states has a system to amend the constitution Here Charles has just described Dash's governance system as it's been functioning since August of 2015 with what's been dubbed its “decision-making engine” Click the link on your screen now if you would like to learn more about how the decision-making engine works

And Charles then then goes on to even further describe Dash's self-funding mechanism Pretty uncannily Listen up That's kind of the third generation The governance system

Now closely related to this is this idea of a DAO So what the heck does that have to do? Why do we care about DAOs? What's interesting about DAOs? It'd be really nice to build some sort of decentralized, inclusion process that also takes economics and incentives in play and is deliberate and deterministic That would be really nice to have Ok Also allocation of capital

Wouldn't it be cool if cryptocurrencies had their own treasuries? Like Bitcoin had its own development fund and it would be able to just open up its wallet and there was some balloting process and Blockstream could say, “I want to be a core developer for Bitcoin” and Bitcoin actually just sends Bitcoins to Blockstream to write new BIPs or implement BIPs or things like that It's a pretty cool idea I like the term Charles uses: treasury way better than self-funding or budget system Treasury! That gets the point across very well And, in his hypothetical example of how say, Blockstream employees might be paid from a hypothetical Bitcoin treasury Charles is describing precisely the way people like Evan Duffield, Andy Freer, and a team of other developers, have actually been paid in actual Dash since August of 2015

So as Charles mentions Bitcoin as the prime example of a first generation crypto and he mentions Ethereum as a more-or-less prime example of a second generation, why is it that he doesn't give a reference, or a footnote, not even so much as a hat tip to Dash as even an aspiring 30 crypto? Perhaps the answer lies in this segment The third generation of blockchains is actually making this process more explicit It's all about aggregation of information It's all about identifying the stakeholders

Identifying conflicts of interest And creating a systematic process for us to actually make decisions about what to implement What BIP to choose What BIP not to choose And this has to be deliberate and slow

Deliberate and slow Slow and deliberate Perhaps Internet friends, that is why Charles was able to go through an entire presentation at points sounding like he was reading from the Dash white paper without once mentioning Dash Because deliberate and slow things rarely get a lot of attention They are not flashy

They are not catchy And they certainly don't get written about in The New York Times, or Huffington Post, or Bloomberg If the history of cryptocurency is as Charles has said: First currency, then smart contracts, and then governance and treasuries, well then Dash is just doing things entirely bassackwards aren't they? While the decision-making engine and Dash's budget system – I mean treasury – is becoming a well-oiled machine, only now are they preparing for the push of a digital currency that your mother can use with the release of Evolution in late 2017 So if you would like to come try things out on the slow, deliberate, and backward side of things, join us, I invite you The dash_chat is the popular Slack channel – the invitation to that group is in the description section below

And then the subreddit is r/dashpay And finally, it's Dash-accepting merchants time! And there are so many more than you thought So many more than I thought First, Aceon Data Recovery Services, which is hey, like it sounds – a data recovery service and it's based in both Seattle and Vancouver Next is MacDaddy's MACs based in North Carolina, which is a shop that sells pre-owned Apple computers

Next is Promoteus, which is an advertising firm that specializes in logos, graphics and branding Next is Tuapoma, which is a multi-lingual, international classifieds site Also the Big Dreams Island guest house in Khlong Chiao / Ko Kut / Thailand And fine original watercolors by Lee Gordon Seebach And finally, a correction from two episodes ago: Campbell's Asphalt Sealing is based in Deleware, not Virginia

All these places take Dash and if you take Dash and your business has not yet had a free shout-out on this show and you want one just sent [email protected] an email and you'll get one And also, if you would like to subscribe to this show which is, if you would like me to send you an email with this video in it each Wednesday again, an email to [email protected] with the word “subscribe” in the subject line And I'll see you next Wednesday

If you haven't had curious people ask you about your interests yet, you likely will as cryptocurrency becomes more and more discussed on a global scale With that said, here are four mistakes to avoid

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